RSSCrocs Take a Dive
Nov 12
Business fashion, shoes Comments Off
A sign of troubled economic times, or just the decline of a worn and tired fad? Either way, Crocs Inc. reported plunging sales and high restructuring costs as its stock shares took a massive dive.
The company, founded in 2002, manufactures the shoes known as Crocs, clunky, neon-colored sandals touted for their comfort. A fashion fad for all of 4 years, the company’s sales have been on the decline recently, undoubtedly because people finally realized that the shoes are supremely ugly. There have also been reports that Crocs cause injuries and buzz about a squabble in Europe over the design patent.
The company is in survival mode, trying to cut manufacturing costs in order to meet plummeting sales projections.
